HOTUSDTHOT ~ 1W
#HOT demand zone that you might need to pay attention to to start buying if you have Conviction on this NASDAQ:COIN
Hotusdtsignals
HOTUSDT Decisive rise but one last Resistance remainsThe Holo Token (HOTUSDT) hit (and broke) today its 1D MA50 (blue trend-line) for the second time in December (Dec 07 first time). By doing so , it broke also above the 1.0 Fibonacci level, which is the top (Lower Highs trend-line) of the Channel Down pattern that started on November 04 2021.
This is a first and decisive step towards reversing this long-term bearish trend and as you see there is a Diverging Channel Down since late June that may lead HOT to its new Bull Cycle. However, one last Resistance remains to confirm that, and that is the 1D MA200 (orange trend-line), that has been unbroken since December 10 2021. A daily close above it and we turn bullish long-term on this token.
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HOTUSDT Buy levels and targetsHolo (HOTUSDT) is on a strong 1D green candle, being on Higher Highs and Higher Lows since the July 13 Low. The 1D MA50 (blue trend-line) is now supporting and the 1D MA200 (orange trend-line) is the short-term target. After that, we need a clear break above the 0.5 Fibonacci retracement level to confirm the long-term trend shift from bearish to bullish. As a result buy either upon a 1D MA50 pull-back or a 0.5 Fib break-out. Notice that on the previous Lower High of the November 2021 Channel Down, the price got rejected near the 0.5 Fib.
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